2023-11-25 21:01:05
Edition from Sunday, November 26, 2023
Innsbruck (OTS) – It must no longer be allowed for an empire like Signa to hide its behavior from the public.
Again Signa left the public in the dark. On Friday morning it leaked that Tyrolean René Benko’s real estate empire was facing bankruptcy, which was denied. Friday followingnoon certainty: a German Signa subsidiary is insolvent. And once more: not a peep from Signa, which describes itself as one of the largest real estate groups in Europe.
Hiding from the public is the core of the system of Signa, Benko, and those prominent companies, advisory boards and supervisory boards that call the shots. As news reported, with helpful tips from tax consultants, meticulous attention was paid to building the Signa company structure so as not to have to prepare consolidated financial statements and thus not to provide an overall overview of the billion-dollar package. Instead, there were only insights into sub-areas, and even these were hidden for a long time and financial statements were only submitted years later. This led to the development of an increasingly knotted structure made up of hundreds of individual companies, a huge black box. Those involved contented themselves with the million-dollar dividends and fees and remained silent.
Whatever the end of Signa, it must no longer be allowed for such an empire to close itself to the public. What is happening here is not the private matter of the Benkos, Haselsteiners and Gusenbauers. It’s not just regarding their money, but regarding public interest: city centers in metropolises with millions of people, huge properties that are standing around half-finished, companies and workers who are not paid. And perhaps in the end the taxpayer will even come to the rescue so that flagship projects like the Elbtower don’t end up in ruins.
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